Beam Global (NASDAQ:BEEM) Earns Hold Rating from Needham & Company LLC

Beam Global (NASDAQ:BEEM)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research report issued on Friday,Benzinga reports.

Beam Global Price Performance

Beam Global stock opened at $1.70 on Friday. The company has a market capitalization of $26.34 million, a PE ratio of -1.75 and a beta of 1.37. Beam Global has a one year low of $1.33 and a one year high of $7.68. The business has a 50 day simple moving average of $1.77 and a 200 day simple moving average of $2.70.

Beam Global (NASDAQ:BEEM) last posted its earnings results on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.16). The company had revenue of $6.32 million for the quarter, compared to the consensus estimate of $8.00 million. Beam Global had a negative return on equity of 19.09% and a negative net margin of 19.26%. During the same quarter last year, the business earned ($0.21) EPS. Equities analysts anticipate that Beam Global will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beam Global

Several hedge funds and other institutional investors have recently modified their holdings of BEEM. Virtue Capital Management LLC increased its holdings in Beam Global by 400.0% during the 4th quarter. Virtue Capital Management LLC now owns 50,000 shares of the company’s stock valued at $158,000 after purchasing an additional 40,000 shares in the last quarter. XTX Topco Ltd increased its holdings in Beam Global by 106.0% during the 4th quarter. XTX Topco Ltd now owns 41,880 shares of the company’s stock valued at $133,000 after purchasing an additional 21,548 shares in the last quarter. Northern Trust Corp increased its holdings in Beam Global by 51.6% during the 4th quarter. Northern Trust Corp now owns 54,723 shares of the company’s stock valued at $173,000 after purchasing an additional 18,628 shares in the last quarter. Shufro Rose & Co. LLC acquired a new stake in Beam Global during the 1st quarter valued at $31,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Beam Global during the 4th quarter valued at $39,000. Institutional investors own 26.59% of the company’s stock.

About Beam Global

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.